American Piping starts roadshow for $100 million five-year notes

By Paul A. Harris

Portland, Ore., Nov. 8 - American Piping Products, Inc. began a roadshow on Thursday in Los Angeles for a $100 million offering of five-year senior secured notes, according to an informed source.

Investor meetings are planned for New York City in the week ahead.

Imperial Capital is the manager of the Rule 144A and Regulation S for life offering.

The notes become callable in two years at par plus 50% of the coupon.

Proceeds will be used to repay debt, to redeem preferred stock and founder's stock, and to pay a dividend to common stock holders.

The prospective issuer is a St. Louis-based distributor of specialty pipes, fitting and flanges.

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